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Unsecured Business Funding

Payments based on percentages

In many cases, the borrower agrees to accept funding with the agreement that their business repays the capital with a certain amount of their gains every month. There’s usually no check writing or payment due dates. The percentage can be withdrawn directly from the sales of the business. The great thing about that is that the borrower never has to worry about missing a payment due to a lack of funds. If sales are slow during a certain month, the monthly payment is small in total. On the reverse, if the capital causes the business to be even more successful, that success will help the borrower automatically repay the loan with a rising percentage of the increasing profits it receives.

The money can be used anything

There is a multitude of reasons a business owner might need extra cash. Some may want to develop and expand their business.Technology advances every minute and keeping up to date can be important. If not the technology, it could be the locations. It’s not all the time that the perfect piece of commercial property comes available. A business would hate to miss out on their chance at taking the next step.

Others may use the money for putting their name out there with unique advertising techniques. Television commercials can be pretty expensive from creating one to paying for the TV slot. Sometimes a business might just be hiring new employees to utilize the capital for funding their payroll. No matter what the reason, an unsecured loan has much more potential than a traditional one.

Faster and Easier

A traditional loan takes time. Waiting to hear back from the bank may take weeks, especially when asking for a large sum of money. Through unsecured methods, a business can typically receive funding in as little as 3 days. If they have the need for it, they could even get approved for as much as $500,000! That much money would be hard to get approved for at a normal bank. If the business did get approved at a bank, it would most likely take a long time and come with a heavy interest rate.